Australian Government Pushes for Bitcoin Accounting Standards

By Timothy Sohn Nov 21, 2016 8:41 PM EDT

(CoinDesk) – The Australian government’s financial reporting standards agency is pushing for international action in the area of digital currencies. The Australian Accounting Standards Board (AASB), a government agency tasked with overseeing the country’s reporting standards, has published a new position paper ahead of a December meeting of members from the International Accounting Standards Board (IASB). In sum, the paper argues that a more defined standard is needed both for digital currencies as well as other kinds of intangible assets.


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